RENDER TOKEN - RNDR/USD - Weekly - Technical analysis published on 12/12/2023 (GMT)
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- Timeframe : Weekly
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
94%
0%
6%
My opinion
Bullish above 3.52 USD
My targets
4.81 USD (+17.60%)
5.88 USD (+43.77%)
My analysis
The bullish trend is currently very strong on RENDER TOKEN - RNDR/USD. As long as the price remains above the support at 3.52 USD, you could try to benefit from the boom. The first bullish objective is located at 4.81 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 5.88 USD as an objective. Crossing it would then enable buyers to target 8.12 USD. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
9.1
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This analysis was given by SprangsOpportunities. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
RENDER TOKEN - RNDR/USD rating 4.09 USD. Over 5 days, this instrument gained +10.90% and has been traded over the last 5 days between 3.55 USD and 4.09 USD. This implies that the 5 day price is +15.30% from its lowest point and 0% from its highest point.3.55
4.09
4.09
A study of price movements over other periods shows the following variations:
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
New HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
The Central Volumes scanner notes the presence of abnormal volumes:
Abnormal volumes
Timeframe : 5 days
Abnormal volumes
Timeframe : 20 days
Abnormal volumes
Timeframe : 50 days
Technical
Technical analysis of this Weekly chart of RENDER TOKEN - RNDR/USD indicates that the overall trend is strongly bullish. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
Technical indicators are strongly bullish, suggesting that the price increase should continue.
Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : Weekly
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Weekly
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Weekly
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
Price
| S3 | S2 | S1 | Price | R1 | |
|---|---|---|---|---|---|
| ProTrendLines | 1.33 | 2.74 | 3.52 | 4.09 | 8.12 |
| Change (%) | -67.48% | -33.01% | -13.94% | - | +98.53% |
| Change | -2.76 | -1.35 | -0.57 | - | +4.03 |
| Level | Major | Major | Major | - | Intermediate |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2.90 | 3.12 | 3.52 | 3.74 | 4.14 | 4.36 | 4.76 |
| Camarilla | 3.76 | 3.82 | 3.87 | 3.93 | 3.99 | 4.04 | 4.10 |
| Woodie | 3.00 | 3.17 | 3.62 | 3.79 | 4.24 | 4.41 | 4.86 |
| Fibonacci | 3.12 | 3.35 | 3.50 | 3.74 | 3.97 | 4.12 | 4.36 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2.86 | 3.18 | 3.45 | 3.77 | 4.04 | 4.36 | 4.63 |
| Camarilla | 3.57 | 3.62 | 3.68 | 3.73 | 3.78 | 3.84 | 3.89 |
| Woodie | 2.85 | 3.17 | 3.44 | 3.76 | 4.03 | 4.35 | 4.62 |
| Fibonacci | 3.18 | 3.40 | 3.54 | 3.77 | 3.99 | 4.13 | 4.36 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.60 | 1.29 | 2.36 | 3.05 | 4.12 | 4.81 | 5.88 |
| Camarilla | 2.95 | 3.11 | 3.27 | 3.43 | 3.59 | 3.75 | 3.91 |
| Woodie | 0.79 | 1.39 | 2.55 | 3.15 | 4.31 | 4.91 | 6.07 |
| Fibonacci | 1.29 | 1.96 | 2.38 | 3.05 | 3.72 | 4.14 | 4.81 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 76.76 | |
| MACD (12,26,9): | 0.5400 | |
| Directional Movement: | 19.46 | |
| AROON (14): | 92.86 | |
| DEMA (21): | 3.22 | |
| Parabolic SAR (0,02-0,02-0,2): | 2.44 | |
| Elder Ray (13): | 0.77 | |
| Super Trend (3,10): | 2.14 | |
| Zig ZAG (10): | 4.04 | |
| VORTEX (21): | 1.1600 | |
| Stochastique (14,3,5): | 94.80 | |
| TEMA (21): | 3.59 | |
| Williams %R (14): | -1.04 | |
| Chande Momentum Oscillator (20): | 2.50 | |
| Repulse (5,40,3): | 33.2900 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 2.3200 | |
| Courbe Coppock: | 238.58 |
| MA7: | 3.81 | |
| MA20: | 3.58 | |
| MA50: | 2.97 | |
| MA100: | 2.31 | |
| MAexp7: | 3.39 | |
| MAexp20: | 2.60 | |
| MAexp50: | 2.03 | |
| MAexp100: | 1.87 | |
| Price / MA7: | +7.35% | |
| Price / MA20: | +14.25% | |
| Price / MA50: | +37.71% | |
| Price / MA100: | +77.06% | |
| Price / MAexp7: | +20.65% | |
| Price / MAexp20: | +57.31% | |
| Price / MAexp50: | +101.48% | |
| Price / MAexp100: | +118.72% |
Quotes :
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Real time data
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Cryptocompare
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